As the internet rages on and hype about the confirmation of Elon Musk’s $44 billion acquisition of Twitter, the social media company has given a timely wink about the future. Not surprisingly, this includes cryptocurrencies and his NFTs.
Called by Twitter in the integration NFT Tweet Tile, users can buy, sell and exhibit NFTs through tweets. This feature, which is still in testing, includes NFT works Provides a click-through button to a marketplace listing.
Currently, this development only works in 4 marketplaces. These include sports-focused Jump.trade, art-focused Rarible, gaming heaven Dapper Labs, and Magic Eden, the largest marketplace on the Solana blockchain.
The choice of initial partners is interesting not only because of the number of blockchain networks involved: Ethereum, Tezos, Polygon, Flow, Solana, and Immutable X. high seasoften referred to as the world’s first and largest NFT marketplace.
The news was announced in a tweet by Twitter Dev, of musk While personal involvement is unknown and seemingly unlikely, Magic Eden tweeted to thank the company’s new owners for “making this happen.”
For now, NFT Tweet Tiles may only be an aesthetic upgrade for Twitter’s legions of NFT devotees, but they could point the way for the San Francisco-based company. Twitter has struggled with profitability issues for years, with him posting a net loss of $221 million in 2021. Beyond spending cuts, including the expected large-scale job cuts, Twitter will have to bolster advertising, which accounted for more than 90% of his revenue last year, and find new revenue streams. A closer relationship with the NFT Marketplace could check both boxes.
The integration provides a format that is likely to encourage NFT platforms to advertise on Twitter, which could cut sales for social media companies in the future.
The move continues to meet Twitter’s demands. NFTs The crypto community following the launch of Hexagonal NFT profile picture Media outlets claimed in early October that the company was developing a prototype crypto wallet.
follow art net news On facebook:
Want to stay one step ahead in the art world? Subscribe to our newsletter for breaking news, eye-popping interviews, and sharp critical takes that propel conversations forward.